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abrdn Global Infrastructure Income Fund (ASGI) Announces Update and Tentative Closing Date for Acquisition of Assets From First Trust/abrdn Global Opportunity Income Fund

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abrdn Global Infrastructure Income Fund (NYSE:ASGI) has announced an update on its acquisition of assets from Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). The reorganization, approved by MFD shareholders, is set to close on September 20, 2024. Key points include:

  • MFD shares will cease trading on NYSE at market close on September 20, 2024
  • MFD shareholders will receive newly issued ASGI shares
  • The combined net assets of ASGI post-reorganization will be approximately $596 million
  • The merger aims to achieve economies of scale, increase liquidity, and enhance marketability

This strategic move is expected to benefit shareholders of both funds by creating a larger, more viable combined fund with improved scale and efficiency.

Il Fondo di Reddito per Infrastrutture Globali abrdn (NYSE:ASGI) ha annunciato un aggiornamento riguardante l'acquisizione di attivi da Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). La riorganizzazione, approvata dagli azionisti di MFD, 猫 prevista per la chiusura il 20 settembre 2024. I punti chiave includono:

  • Le azioni di MFD smetteranno di essere negoziate sul NYSE alla chiusura del mercato il 20 settembre 2024
  • Gli azionisti di MFD riceveranno nuove azioni emesse da ASGI
  • Il patrimonio netto combinato di ASGI dopo la riorganizzazione sar脿 di circa $596 milioni
  • La fusione mira a raggiungere economie di scala, aumentare la liquidit脿 e migliorare la commerciabilit脿

Questa mossa strategica si prevede porter脿 benefici agli azionisti di entrambi i fondi creando un fondo combinato pi霉 grande e pi霉 sostenibile con una scala e un'efficienza migliorate.

El Fondo de Ingresos por Infraestructura Global abrdn (NYSE:ASGI) ha anunciado una actualizaci贸n sobre su adquisici贸n de activos de Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). La reorganizaci贸n, aprobada por los accionistas de MFD, se cerrar谩 el 20 de septiembre de 2024. Los puntos clave incluyen:

  • Las acciones de MFD dejar谩n de cotizar en NYSE al cierre del mercado el 20 de septiembre de 2024
  • Los accionistas de MFD recibir谩n nuevas acciones emitidas de ASGI
  • Los activos netos combinados de ASGI despu茅s de la reorganizaci贸n ser谩n aproximadamente $596 millones
  • La fusi贸n busca lograr econom铆as de escala, aumentar la liquidez y mejorar la comerciabilidad

Este movimiento estrat茅gico se espera que beneficie a los accionistas de ambos fondos creando un fondo combinado m谩s grande y viable con una mejor escala y eficiencia.

abrdn 旮搿滊矊 鞚疙攧霛 靾橃澋 旮瓣笀 (NYSE:ASGI)鞚 Macquarie/First Trust 旮搿滊矊 鞚疙攧霛/鞙犿嫺毽嫲 氚半嫻旮 氚 靻岆摑 旮瓣笀 (NYSE:MFD)鞐愳劀 鞛愳偘 鞚胳垬鞐 雽頃 鞐呺嵃鞚错姼毳 氚滍憸頄堨姷雼堧嫟. MFD 欤检<霌れ澊 鞀轨澑頃 鞛“歆侅潃 2024雲 9鞗 20鞚鞐 膦呺霅 鞓堨爼鞛呺媹雼. 欤检殧 靷暛鞚 雼れ潓瓿 臧欖姷雼堧嫟:

  • MFD 欤检嫕鞚 2024雲 9鞗 20鞚 鞁滌灔 膦呺 鞁 NYSE鞐愳劀 瓯半灅臧 欷戨嫧霅╇媹雼
  • MFD 欤检<霌れ潃 靸堧 氚滍枆霅 ASGI 欤检嫕鞚 氚涥矊 霅╇媹雼
  • 鞛“歆 鞚错泟 ASGI鞚 瓴绊暕霅 靾滌瀽靷办潃 鞎 $596 million鞚 霅 瓴冹瀰雼堧嫟
  • 鞚措矆 頃╇硲鞚 攴滊鞚 瓴届牅毳 雼劚頃橁碃 鞙犽彊靹膘潉 歃濌皜鞁滍偆氅 鞁滌灔靹膘潉 頄レ儊鞁滍偆旮 鞙勴暅 瓴冹瀰雼堧嫟

鞚 鞝勲灥鞝 鞚措彊鞚 氤措嫟 韥 攴滊鞕 須湪靹膘潉 臧栰稑 韱淀暕 旮瓣笀鞚 彀届稖頃橃棳 霊 旮瓣笀鞚 欤检<霌れ棎瓴 順滍儩鞚 欷 瓴冹溂搿 鞓堨儊霅╇媹雼.

Le Fonds de Revenus d'Infrastructure Mondiale abrdn (NYSE:ASGI) a annonc茅 une mise 脿 jour concernant son acquisition d'actifs de Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). La r茅organisation, approuv茅e par les actionnaires de MFD, devrait se cl么turer le 20 septembre 2024. Les points cl茅s comprennent :

  • Les actions de MFD cesseront d'锚tre n茅goci茅es 脿 la NYSE 脿 la cl么ture des march茅s le 20 septembre 2024
  • Les actionnaires de MFD recevront de nouvelles actions 茅mises par ASGI
  • Apr猫s la r茅organisation, les actifs nets combin茅s d'ASGI seront d'environ $596 millions
  • La fusion vise 脿 r茅aliser des 茅conomies d'茅chelle, 脿 accro卯tre la liquidit茅 et 脿 am茅liorer la commercialisation

Ce mouvement strat茅gique devrait b茅n茅ficier aux actionnaires des deux fonds en cr茅ant un fonds combin茅 plus grand et plus rentable avec une 茅chelle et une efficacit茅 am茅lior茅es.

Der abrdn Global Infrastructure Income Fund (NYSE:ASGI) hat ein Update zu seiner 脺bernahme von Verm枚genswerten des Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD) angek眉ndigt. Die von den MFD-Aktion盲ren genehmigte Reorganisation wird am 20. September 2024 abgeschlossen sein. Wichtige Punkte sind:

  • MFD-Aktien werden am 20. September 2024 nach Marktende nicht mehr an der NYSE gehandelt
  • MFD-Aktion盲re erhalten neu ausgegebene ASGI-Aktien
  • Die kombinierten Nettoverm枚gen von ASGI nach der Reorganisation werden etwa $596 Millionen betragen
  • Die Fusion zielt darauf ab, Skaleneffekte zu erzielen, die Liquidit盲t zu erh枚hen und die Vermarktbarkeit zu verbessern

Diese strategische Ma脽nahme wird voraussichtlich den Aktion盲ren beider Fonds zugutekommen, indem ein gr枚脽eres, tragf盲higeres kombiniertes Fonds mit verbesserter Gr枚脽e und Effizienz geschaffen wird.

Positive
  • Increased fund size to approximately $596 million in combined net assets
  • Potential for economies of scale and reduced operating expenses
  • Enhanced liquidity and marketability of the combined fund
  • Improved viability of the resulting fund due to increased scale
Negative
  • None.

PHILADELPHIA, PA / ACCESSWIRE / August 22, 2024 / The Board of Trustees of , announces today that shareholders of Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD) ("MFD" or the "Acquired Fund"), advised by First Trust Advisors L.P., have approved the proposed reorganization into ASGI ("Reorganization") which is expected to close at the close of business on September 20, 2024, or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions.

To facilitate the Reorganization, all shares of MFD are expected to cease trading on the New York Stock Exchange as of the market close on September 20, 2024, and MFD shareholders will be issued newly issued shares of ASGI. The Reorganization will occur based on the relative net asset values of the common shares of MFD. As of August 21, 2024, the combined net assets of ASGI following the Reorganization will be approximately $596 million.

The Reorganization is expected to benefit each fund's shareholders in a number of important ways, providing greater opportunities to realize economies of scale by combining the funds' assets resulting in a larger fund. Additionally, the Reorganization is expected to help ensure the viability of the resulting combined fund by increasing scale, liquidity and marketability of the fund.

Important Information
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Closed-end funds are traded on the secondary market through one of the stock exchanges. Each Acquiring Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that each Acquiring Fund will achieve its investment objective. Past performance does not guarantee future results.

If you wish to receive this information electronically, please contact Investor.Relations@abrdn.com



For More Information Contact:
abrdn U.S. Closed-End Funds
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com

SOURCE: abrdn Global Infrastructure Income Fund



View the original on accesswire.com

FAQ

When will the reorganization of ASGI and MFD be completed?

The reorganization is expected to close at the close of business on September 20, 2024, or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions.

What will happen to MFD shares after the reorganization with ASGI?

MFD shares are expected to cease trading on the New York Stock Exchange as of the market close on September 20, 2024. MFD shareholders will be issued newly issued shares of ASGI based on the relative net asset values of the common shares.

What is the expected size of ASGI after the reorganization?

As of August 21, 2024, the combined net assets of ASGI following the reorganization will be approximately $596 million.

What are the main benefits of the ASGI and MFD reorganization?

The reorganization is expected to provide greater opportunities to realize economies of scale, increase liquidity and marketability, and help ensure the viability of the resulting combined fund by increasing its scale.

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